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FedEx to Distribute Cancer Drugs by Using Blockchain

The FedEx Institute of Technology along with the Good Shepherd Pharmacy have teamed up to create a blockchain platform aimed at helping cancer patients get quicker access to medications.

The two organizations are developing a blockchain platform, called REMEDI. The companies say it will be designed to retrieve unused medications from cancer patients and pass them on to economically disadvantaged patients who would not be able to afford them on a regular basis.

Blockchain technology is ready to restructure the healthcare industry and it's effect on the pharmaceutical industry cannot be underestimated.

Good Shepherd Pharmacy is a nonprofit membership pharmacy that specializes in supplying prescription medications to uninsured Tennessee residents. Members pay a monthly fee and get all the prescriptions they need. In Tennessee, over $10 million worth of perfectly good prescription medication gets flushed down the toilet every year. They believe that Blockchain is the solution to that problem.

According to FedEx CEO Fred Smith, blockchain is the next frontier that’s going to completely change worldwide supply chains. Cody Behles, FedEx Institute’s Innovation and Research Support’s assistant director, said “One of the most valuable resources universities can provide to the innovation ecosystem is the space to explore new ideas and opportunities in an unrestrained environment.”